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Closed
Closed

$560,000

($247,419 down)
FHA

1857 S FOLLETT Way, Gilbert, AZ 85295

3
3
2,196 sqft
PITI Monthly
$1,956.71 /mo

Listing courtesy of: Nic Dekeyser, Long Realty Canyon Sky

Assumed Rate

2.83%
7.15%

Principal & Interest

$1,392 /mo
$2,280 /mo
$40,175 in interest paid off

What's Special

SHOPPING
ENTERTAINMENT
DINING
SPACIOUS
GRANITE COUNTERTOPS
COMMUNITY POOL
Beautifull Shea Home!! this spacious and contemporary residence was constructed in 2020. Featuring three bedrooms, 2.5 baths, and an open loft, the
house offers a generously sized great room, a well-appointed kitchen , upgraded cabinetry, granite countertops, and designer flooring. The property
has been extensively upgraded throughout. Conveniently located just half a mile from the San Tan/Loop 202 Freeway, the community also offers
proximity to shopping, dining, and entertainment options. Furthermore, the home enjoys easy access to a community pool, a covered pla... Show more
... Show more

Assumption Snapshot

Type of Loan
FHA
Interest Rate
2.83
Remaining Loan Term
25 years, 7 months
Monthly PITI
$1,956.71/mo
Estimated Loan Balance
$346,284
Cash to close
$247,419
Interest Paid
$40,175

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms: 3
  • Bathrooms: 3
Cooling & Heating
  • Cooling: Ceiling Fan(s), Refrigeration
  • Heating: Natural Gas
Features
  • Materials: Painted, Stucco, Block, Frame - Wood
  • Community: Unknown
  • Has Fireplace: Yes
  • Fireplace Features: Fire Pit
  • Flooring: Carpet, Tile

Exterior

Fencing
  • Fencing: Block
Roof
  • Roof: Composition
Parking
  • Garage: Yes
  • Garage Spaces: 2
  • Carport: Yes
  • Carport Spaces: 2
Water
  • Sewer: Public Sewer
  • Water Source: City Water
Pool
  • Has Pool: No
  • Pool Features: None

Construction

Type & Style
  • Stories: 2
  • Home type: Single Family - Detached
  • Architectural Style: Contemporary
Materials
  • Painted, Stucco, Block, Frame - Wood
  • Roof: Composition
Condition
  • Year Built: 2020
Details
  • Builder: Shea homes

Community & HOA

Community
  • Subdivision: RAY & RECKER pointe
  • Features: Community Pool, Playground, Biking/Walking Path
HOA
  • Has HOA: Yes
  • HOA Name: recker pointe comm
  • HOA Amenities: Unknown
  • HOA Fee: $91
  • HOA Frequency: $Monthly
Location
  • Region: Gilbert

Financial Details

  • Price per Sqft: $255.01
  • Tax Annual Amount: $1902
  • On Market Date: Mar 23, 2024
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Savings Calculator

Current cash to close is $247,419 (44%)
You can enter any amount below - secondary financing will cover the difference if needed.
44%
$
0%20%50%

You cover the entire equity of $247,419!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage2.83% Sellers Rate
$312,581
Your Cash$247,419
Total Purchase Price:$560,000

Assumed vs Traditional Mortgage

Assumed @ 2.83%
$1,392/mo
Traditional @ 7.15%
$2,365/mo
You save $972/month ($11,670/year)

*Secondary financing rates are an estimated value based on input

MLS ID: 6675130

Listing From: Arizona Regional Multiple Listing Service (ARMLS)

Last updated: Mar 07, 2025 08:31pm

© 2025, Arizona Regional Multiple Listing Service (ARMLS). All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

Assumed Rate

2.83%
7.15%

Principal & Interest

$1,392 /mo
$2,280 /mo
$40,175 in interest paid off
Inquire about this property
​
​
​
​
​

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $247,419 (44%)
You can enter any amount below - secondary financing will cover the difference if needed.
44%
$
0%20%50%

You cover the entire equity of $247,419!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage2.83% Sellers Rate
$312,581
Your Cash$247,419
Total Purchase Price:$560,000

Assumed vs Traditional Mortgage

Assumed @ 2.83%
$1,392/mo
Traditional @ 7.15%
$2,365/mo
You save $972/month ($11,670/year)

*Secondary financing rates are an estimated value based on input

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May, 14 2025

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